The exclusive definition of Agriculture brings into tax ambit the activities of dairy farming, poultry farming, and stock breeding into GST net. Similarly for claiming exemption from agriculture activity the Agriculturist is required to cultivate land PERONSNALLY.
Government of India has been preparing for introduction of Goods and Services Tax for over a year now. Here are some fascinating facts that you need to know about GST.
Article is case study on allowability of expenses by Pharma Companies related to Doctors on on Customer Relationship Management expenses, Key Account Management expenses, Gift Articles, Free medicine Sample, Advertisement and Sales Promotion based on ITAT Mumbai Judgment in the case of The Dy. CIT Vs. PHL Pharma P Ltd.
ITAT Mumbai held that Where assessee is involved in arbitrage activities, the transactions of shares in cash segment and future segment cannot be segregated to calculate profit and loss from each segment separately.
Existing ICAI Code of Ethics is based on provisions of Chartered Accountants Act, 1949, Chartered Accountants Regulations, 1988, Council Guidelines issued from time to time, as also on the provisions of International Code of Ethics issued by International Ethics Standards Board for Accountants (IESBA).
It has to be realized that good corporate governance is about helping the company achieve its objectives, implement its corporate strategy, while keeping the interest of various stakeholders in mind.
The Board approved the proposal to amend various Regulations to enable the market participants to make payments to SEBI through digital mode (such as NEFT/RTGS) as well.
AO’s assumption of jurisdiction under section 153A of Income Tax Act,1961 and consequent passing of order of assessment u/s. 143(3) r.w.s. 153A is void if Assessing Officer erred in assuming jurisdiction u/s 153A
Notice as prescribed U/s. 143(2) was not properly served on assessee, ITAT Kolkata, held, that assessment made U/s. 144 of the Act was not valid & it was quashed.
Hon’ble Supereme Court admits SLP- Transer pricing adjustment should be restriced to AE transactions only and not on entire turnover of assessee
